In the previous session on Friday, the rupee had lost 14 paise against the dollar to close at 82.47.
In the previous session on Friday, the rupee had lost 14 paise against the dollar to close at 82.47.
The rupee on Monday advanced 15 paise to 82.32 against the US dollar in early trade on softening crude oil prices and a positive trend in domestic equities.
At the interbank forex, the domestic unit opened at 82.35 against the dollar, then found ground for bidding at 82.32, registering a rise of 15 paise over its previous close.
In the previous session on Friday, the rupee had lost 14 paise against the dollar to close at 82.47.
The rupee started on a strong note on Monday in view of weak oil prices. However, most Asian and emerging market peers opened on a weak note and could turn gains, said Sriram Iyer, Senior Research Analyst, Reliance Securities.
Mr Iyer further said caution would be taken this week ahead of important meetings of the US Fed, the Bank of England and the US. A surprise meeting of RBI,
For the first time since the implementation of the monetary policy framework in 2016, the Reserve Bank will submit a report to the government on its failure to keep the retail inflation rate below six per cent for three consecutive quarters beginning January 2022.
The central bank has called a special meeting of the Monetary Policy Committee (MPC) on November 3.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.01% to 110.73.
Global oil benchmark Brent crude futures fell 0.52% to $95.27 a barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 605 points or 1.01% higher at 60,564.85. Similarly, the broader NSE Nifty rose 171.85 points or 0.97% to 17,958.65.
Foreign institutional investors (FIIs) were net buyers in the capital markets on Friday as they bought shares worth Rs 1,568.75 crore, according to exchange data.